The biggest hurdle young professionals have to long-term financial success is simply getting started. All the industry talk about “retirement” seems just so irrelevant. The simple fact, however, is that achieving your financial goals is much, much easier if you start early. Young professionals have time on their side. Many also have a unique period in which they have the opportunity to power save, before the obligations of a spouse and a growing family kick in.

Rather than focus on retirement, young professionals have a unique opportunity to work on creating a happy and wealthy life for themselves in very specific ways:

  • Creating a long-term strategy for financial independence
  • Crafting career strategies that maximize their human capital
  • Planning for sabbaticals or other extended periods of rest and renewal
  • Getting their housing strategy right for the long term
  • As young parents, thinking about appropriate education options
  • Understanding how their family situation – and especially their parents – may affect their own lives, either as a challenge or as an opportunity
  • Leveraging relatively low-earning years to benefit themselves in potentially high-earning years